all know the huge success Nike had with Michael Jordan,
which put Nike lightyears ahead of its competitors in basketball
shoes. But recently, its competitors have been catching
up, and one of them is Reebok. Just like MJ is the signature
of Nike, AI is the signature of Reebok, bringing forth a
new Reebok - Nike rivalry.
Did you know that Iverson wore only Air Jordan's growing
up? Check the bio section.
His mom wanted him to go to basketball practice (Allen refused
and cried because he didn't like basketball at the time),
so she bought him a pair of Air Jordans. Despite living
in poverty, his mom would do anything to get him a pair
whenever they came out.
Iverson wore Nike shoes in Georgetown, primarily because
the team was sponsored by Nike. But when he was drafted
into the NBA, Reebok took a chance and immmediately signed
him to a $40 million deal for 5 years. With Allen's phenomenal
rookie season (winning the Rookie of the Year), Reebok became
an instant success. His first signature shoe, the
Question (after his nickname, The Answer), sold in record-breaking
As Iverson continued to thrive, so did Reebok. Reebok launched
a line of his signature shoe, called The Answer (after
his nickname), with a new pair releasing every new season.
By now, Reebok was a new competitor in the basketball sector,
launching the I3 Collection of clothing for both
on and off the court.
But still, Reebok-Nike picture is still more like David
vs Goliath (or Sixers vs Lakers for that matter). Reebok
has roughly $3 billion in annual sales compared to Nike's
$10 billion. However, times are changing. As Iverson continues
to succeed, so does Reebok. This should keep Nike on their
toes, while putting more flavour to the shelf next time
at the local foot locker.
From the boy who wore Air Jordan's growing up, to the superstar
who made his own brand, these are his kicks, The Answer's.
Iverson signs lifetime deal with Reebok
signed a lifetime endorsement contract with Reebok on November
28, 2001. The deal is an extension to his 10 year, $50 million
deal signed after being the No. 1 pick in the 1996 NBA draft.
Terms of the deal weren't disclosed, but Fireman, CEO of
Reebok, said he'd never before signed a "lifetime"
deal for Reebok. "It shows a lot of commitment, and
hopefully I can stand up to my part," Iverson said.
"I didn't have the greatest past in the world, but
they always stood by me and always stood up for me when
times were bad. This is another time they stood by me and
I'm just looking forward to doing the best I can for Reebok."
Reebok gave Allen a Breitling watch during a news conference
announcing his lifetime contract .
Get ready for a Jordan-like legacy...
here to read the full article.
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